Legal time spent on religious freedom bill racking up

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2. In related news: Financial agency: Mississippi has negative credit outlook

JACKSON – The bond credit rating agency Moody’s Investor Service has given Mississippi a negative credit outlook because the state dipped into its rainy day fund to cover budget shortfalls, but the state’s bond rating remains unchanged.

Moody’s says officials’ withdrawal of $108 million from reserves “further weakens the state’s financial position.”

The credit outlook, issued Monday, does not change the state’s bond rating, but state Treasurer Lynn Fitch said Tuesday that it is “essentially a warning shot over Mississippi’s bow,” and she hopes lawmakers take note. A decline in the bond rating would increase the state’s expenses for long-term borrowing.

“Now, it is more important than ever for our Legislature to institute truly conservative fiscal policies, like spending within our means, keeping borrowing to a minimum, and shoring up our rainy day fund,” Fitch said in a statement

http://djournal.com/news/financial-agency-mississippi-negative-credit-outlook/